UK Lawmakers Vote For Banking Probe Amid Libor Scandal

Law360, New York (July 5, 2012, 5:45 PM EDT) -- British lawmakers voted Thursday to conduct an investigation of the country’s banking system in light of an interest rate-rigging scandal that has already led to a $450 million settlement by Barclays PLC and calls for criminal prosecutions.

The House of Commons voted 330 to 226 to appoint a joint parliamentary committee to probe the banking sector, focusing on alleged manipulation by Barclays and other top banks of the Libor and Euribor, two key interest rates. Barclays’ June 27 settlement of the allegations forced the resignation of...
To view the full article, register now.